Vancouver's Real Estate Market

[TypeRNammer]

Originally Posted by twitchyzero

or just scrap the extremely restrictive 2nd floor/roof pitch red tapes on laneways and the carport requirement

it's a backalley, no one's actually planting bushes next to the garage door and just because it's more space efficient doesnt mean it cant look like kyoto

Agreed, the amount of red tape is absolutely ridiculous.

If it wasn't for the stupid restrictive 2nd floor and pitched roof our build would have been at least 1200sq.

Nope, maximum 900sq with 40sq of storage. And the lowest point of the ceiling is in the master bedroom and up stairs washroom at 5'8"

[ilovebacon]

https://www.burnabynow.com/local-new...lanned-6880389

Keltic plans to build market condos and 20 per cent affordable rental units, required by bylaw.

This is good news

[unit]

"my property taxes are astronomical so we have no choice but to sell"

assessment was 101m, i wonder what they sold to developers for?

[cafe22]

Originally Posted by unit

"my property taxes are astronomical so we have no choice but to sell"

assessment was 101m, i wonder what they sold to developers for?

Imagine if the judge didn't side with Rev Bowling back in 2019.

https://www.burnabynow.com/real-esta...-judge-3100222

[twitchyzero]

Originally Posted by supafamous

That's happening too - full 2nd floors are coming for laneways so the max size on a standard lot will become about 800sf. It should look a lot like the new Burnaby ones that are coming online late this year (link)

One day I hope alleys become streets themselves - kinda like Kyoto as you mention.

link no work
is it this? https://www.burnabynow.com/local-new...llowed-6744166
it's been approved?

[supafamous]

Originally Posted by twitchyzero

link no work
is it this? https://www.burnabynow.com/local-new...llowed-6744166
it's been approved?

Whoops - replaced the link with the site instead of the doc: https://burnaby.civilspace.io/en/pro...hoices-program

It's almost approved - they just did some open houses to get public feedback and expect to make it official in October. It's a big improvement over the Vancouver policy though, I would argue, not far reaching enough - they fixed the worst problems with the Vancouver policy but didn't do anything to really leap forward (like being more aggressive like what Portland does).

[Great68]

So this building in Langford is back in the news, apparently was never fixed properly and still has serious structural issues. All tenants forced to evacuate immediately AGAIN:

https://vancouverisland.ctvnews.ca/l...erns-1.6369459



You have to feel bad for those people.

[Hondaracer]

If you had a 1.4 budget and had to stay in Vancouver, what would you look for?

[Alpine]

Originally Posted by Hondaracer

If you had a 1.4 budget and had to stay in Vancouver, what would you look for?

Criteria?
1.4m could be a studio or a duplex...

[Hondaracer]

Have a fairly broad criteria

Friends of ours have kind of decided they need to get into the market period and are no longer waiting for some detached to roll around. They have 2 young kids but basically just want to start building equity as opposed to renting anymore.

Does seem like there’s some 1000-1200sq ft units around Main but they are all in 1990 buildings or older so there’s some risk with those.. just trying to give some suggestions for them but it’s a bit of a tricky price point

[radeonboy]

I'm around that area often and the recent listings that popped up sold pretty quick.

How's something like this:
https://www.zillow.com/homedetails/3...58087153_zpid/

[supafamous]

Originally Posted by Hondaracer

If you had a 1.4 budget and had to stay in Vancouver, what would you look for?

I like the south side of Norquay Village (South of Kingsway between Nanaimo and Rupert) - the rapid bus runs all the time so getting to either Skytrain stop is pretty easy, good parks, decent amenities on Kingsway, quite walkable depending on exactly where you are.

This is 1.4m + GST so maybe it's over their budget:

https://www.rew.ca/properties/476543...erty_click=map

Or this townhouse for $1.3m

https://www.rew.ca/properties/482038...rty_click=map#

There's a fair number of townhouse developments in that area so stuff should come up frequently. They can also stake out the ones that are under construction and see if they can get in on it quickly. Quality varies - I've seen some where the builder has clearly run out of money that sit for a few months at a time while others seem to go up quickly and sell quickly.

[TypeRNammer]

Originally Posted by supafamous

I like the south side of Norquay Village (South of Kingsway between Nanaimo and Rupert) - the rapid bus runs all the time so getting to either Skytrain stop is pretty easy, good parks, decent amenities on Kingsway, quite walkable depending on exactly where you are.

This is 1.4m + GST so maybe it's over their budget:

https://www.rew.ca/properties/476543...erty_click=map

Or this townhouse for $1.3m

https://www.rew.ca/properties/482038...rty_click=map#

There's a fair number of townhouse developments in that area so stuff should come up frequently. They can also stake out the ones that are under construction and see if they can get in on it quickly. Quality varies - I've seen some where the builder has clearly run out of money that sit for a few months at a time while others seem to go up quickly and sell quickly.

I'm guessing the development on East 33rd Ave at Gladstone went completely bankrupt? It's been sitting for the longest time to the point the wood has gone 50 shades of grey

[Hondaracer]

They’ve gotta tear that shit down now. Couldn’t imagine anyone picking it up in that state

[supafamous]

Originally Posted by TypeRNammer

I'm guessing the development on East 33rd Ave at Gladstone went completely bankrupt? It's been sitting for the longest time to the point the wood has gone 50 shades of grey

LOL, yeah, that's a block from my parents so I see it a lot. That's pretty much a teardown now I think. The one at 33rd/Clarendon did get finished but boy was it ever slow to get done - felt like 3 years. There's at least a few others that were like that - Clarendon/34th paused for at least 6 months I think the builder was the same builder who built my buddy guy duplex and that guy was a total shithead so not surprised.

Looked up Street View of the 33rd/Gladstone one and it was being framed in mid-late 2020: https://goo.gl/maps/kryFMqgRbH47gaJaA

[Gerbs]

Wow 3 years, wood must be rotting now?

[Hondaracer]

Yea all the plywood etc. is done.

[68style]

Originally Posted by supafamous

https://www.rew.ca/properties/482038...rty_click=map#

LOL you better never get fat if you gonna own this place

[supafamous]

Originally Posted by 68style

LOL you better never get fat if you gonna own this place

Talking about this shower?

[68style]

Ooops yes but I actually meant the other place!!

Changed my link quote...

[supafamous]

Originally Posted by 68style

Ooops yes but I actually meant the other place!!

Changed my link quote...

[Alpine]

Originally Posted by carsncars

Here's a unique house: https://www.zealty.ca/mls-R2768205/4...-Vancouver-BC/



That said I can't help but wonder how much it costs to heat that place with what looks like baseboard heaters only...

And sold for 3.5m 3 days on the market lol.

[Badhobz]

^people's got problems. 3.5 for that soggy old mess? its stuck in a rainforest basically, i cant imagine the amount of mold/mildew thats on the building.

[Hondaracer]

Bro it’s by some lesser known architect that designed some non-descript buildings bro

[westopher]

That's a lot cooler of a place than most other 3.5 million fake luxury new builds.
I think it's pretty reasonable at this point though to say absolutely everything on the market you are getting shit for what you're paying.